Good morning traders
Last week we went long gold at 1295 targeting the formation of a head and shoulder pattern around 1301. Four days later and we see that right hand shoulder pattern forming and therefore look to short gold at market level.
If you look at our chart work on the uk trading view website you can see four failed attempts on 4 hourly charts to...
Along with upcoming events the head and shoulders shows a high potential for a secure long sell position against the Yen.
I would sell upon the confirmation of the right shoulder. I will post a clear signal once the shoulder fully forms and continue on the reverse of the trend.